In a recent report from The Streamr, it was revealed that entertainment mogul Tyler Perry is poised to take control of the cable channel BET, marking a significant shift in the media landscape. The acquisition comes at a crucial time for BET’s parent company, Paramount, which has been experiencing financial losses. While the exact value of the deal remains undisclosed, Perry’s takeover will grant him control over BET Media Group, which includes other networks like VH1.
This development marks a further collaboration between Perry and BET, as the star had previously partnered with the company through his renowned Tyler Perry Studios banner to launch BET+, a popular streaming service. Offering a plethora of original films and series from BET’s program library, BET+ has garnered immense success since its inception. In fact, in 2021, it contributed significantly to subscriber growth and nearly all revenue growth for the channel.
The decision to sell a majority stake in BET was driven by Paramount Global’s desire to explore new avenues and opportunities. Earlier this year, Perry expressed his optimism about the possibility of acquiring the company, highlighting his deep connection with BET and his desire to take it further. In an interview with Entertainment Online, he confirmed his intentions, stating, “Rumor? No, it’s not a rumor. I’ve been there for four years now and had tremendous success. I wasn’t expecting this to happen, so, yes—if that is possible, I’m very, very interested in taking as much of it… If it’s possible, I’m gonna take as much of it as I can.”
The news of Tyler Perry’s impending control over BET has sent ripples throughout the industry. Perry, known for his exceptional storytelling and business acumen, has achieved remarkable success in his career. With this new venture, he is set to expand his influence further, shaping the direction of one of the most prominent cable channels in the entertainment industry.